MTC's cautious lending pays off with 16% Q2 profit growth

It beat UOBKH's forecast by 8%.

Thailand’s Muangthai Capital (MTC) maintains a cautious lending strategy to manage asset quality risks, said UOB Kay Hian.

The non-bank financial institution should be able to maintain a decent portfolio quality despite household purchasing power in Thailand remaining under pressure, and despite many debtor groups facing slow income recovery, the brokerage company said.

“With a good track record on controlling asset quality, we believe MTC will be capable of maintaining a decent portfolio quality during the economic recovery period,” said UOBKH analyst Thanawat Thangchadakorn.

Thailand’s Muangthai Capital (MTC) reported a net profit of $57.52m (THB 1.9b) for Q2 2026, up 16% year-on-year (YoY) and 5% quarter-on-quarter (QoQ).

This is in line with market expectations but beat UOBKH’s forecast by 8%, Thangchadakorn said.

Loans grew 8% YoY in the period ending June 2026. The company opened up 152 new stores in Q2, bringing it to a total of 8,906 branches.

MTC laid out plans to have 9,000 branches in 2026.

The non-performing loan (NPL) ratio rose slightly in Q2 2026, whilst pre-provision operating profit rose 11% YoY and 7% QoQ.

(US$1 = THB 33.03, as of 18 August 2026)